Workday, Inc. (NASDAQ:WDAY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Workday, Inc. (NASDAQ:WDAY) have received a consensus rating of “Moderate Buy” from the thirty-one brokerages that are presently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $296.25.

Several analysts recently weighed in on WDAY shares. BMO Capital Markets raised their price objective on Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Piper Sandler boosted their target price on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada increased their price target on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th.

Workday Price Performance

WDAY stock opened at $221.02 on Friday. The company’s 50-day moving average price is $244.00 and its two-hundred day moving average price is $252.18. The firm has a market cap of $58.79 billion, a P/E ratio of 36.65, a P/E/G ratio of 3.55 and a beta of 1.32. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, analysts anticipate that Workday will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. This represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares of the company’s stock, valued at approximately $7,789,921.75. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 321,724 shares of company stock worth $77,976,126. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently bought and sold shares of WDAY. Vanguard Group Inc. raised its holdings in shares of Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after acquiring an additional 4,517,272 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Workday during the fourth quarter valued at approximately $658,735,000. Norges Bank bought a new stake in Workday during the fourth quarter worth $645,710,000. Parnassus Investments LLC lifted its stake in Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after acquiring an additional 2,078,097 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.